Externalities of human capital

Detalhes bibliográficos
Autor(a) principal: Bosi, Stefano
Data de Publicação: 2021
Outros Autores: Lloyd-Braga, Teresa, Nishimura, Kazuo
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.14/34905
Resumo: Investments in human capital are individual and collective choices carrying significant external effects. Educated parents and friends accelerate our own human capital accumulation. Skilled colleagues at work increase our own productivity. Sharing experiences with cultured people is gratifying by itself. We introduce human capital externalities in a stylized model à la Uzawa (1965) and we find that growth can be no longer balanced and the equilibrium can be globally indeterminate. Labor supply goes to one and capital reaches an upper ceiling in a finite lapse of time above the initial critical value of labor supply ensuring the balanced growth path. Under a constant tax rate, the government should set a positive rate to speed up human capital accumulation during transition to the capital ceiling.
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spelling Externalities of human capitalExternalitiesGrowthHuman capitalInvestments in human capital are individual and collective choices carrying significant external effects. Educated parents and friends accelerate our own human capital accumulation. Skilled colleagues at work increase our own productivity. Sharing experiences with cultured people is gratifying by itself. We introduce human capital externalities in a stylized model à la Uzawa (1965) and we find that growth can be no longer balanced and the equilibrium can be globally indeterminate. Labor supply goes to one and capital reaches an upper ceiling in a finite lapse of time above the initial critical value of labor supply ensuring the balanced growth path. Under a constant tax rate, the government should set a positive rate to speed up human capital accumulation during transition to the capital ceiling.Veritati - Repositório Institucional da Universidade Católica PortuguesaBosi, StefanoLloyd-Braga, TeresaNishimura, Kazuo2022-06-11T00:30:24Z2021-072021-07-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.14/34905eng0165-489685105299966000661250700013info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-12-12T01:34:32Zoai:repositorio.ucp.pt:10400.14/34905Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:28:18.338231Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Externalities of human capital
title Externalities of human capital
spellingShingle Externalities of human capital
Bosi, Stefano
Externalities
Growth
Human capital
title_short Externalities of human capital
title_full Externalities of human capital
title_fullStr Externalities of human capital
title_full_unstemmed Externalities of human capital
title_sort Externalities of human capital
author Bosi, Stefano
author_facet Bosi, Stefano
Lloyd-Braga, Teresa
Nishimura, Kazuo
author_role author
author2 Lloyd-Braga, Teresa
Nishimura, Kazuo
author2_role author
author
dc.contributor.none.fl_str_mv Veritati - Repositório Institucional da Universidade Católica Portuguesa
dc.contributor.author.fl_str_mv Bosi, Stefano
Lloyd-Braga, Teresa
Nishimura, Kazuo
dc.subject.por.fl_str_mv Externalities
Growth
Human capital
topic Externalities
Growth
Human capital
description Investments in human capital are individual and collective choices carrying significant external effects. Educated parents and friends accelerate our own human capital accumulation. Skilled colleagues at work increase our own productivity. Sharing experiences with cultured people is gratifying by itself. We introduce human capital externalities in a stylized model à la Uzawa (1965) and we find that growth can be no longer balanced and the equilibrium can be globally indeterminate. Labor supply goes to one and capital reaches an upper ceiling in a finite lapse of time above the initial critical value of labor supply ensuring the balanced growth path. Under a constant tax rate, the government should set a positive rate to speed up human capital accumulation during transition to the capital ceiling.
publishDate 2021
dc.date.none.fl_str_mv 2021-07
2021-07-01T00:00:00Z
2022-06-11T00:30:24Z
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dc.language.iso.fl_str_mv eng
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